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stqust

Access to PSLOC right away?

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Hey all,

If you're approved for a PSLOC, do you get access to those funds right away, or do you only get access to it a few weeks before school begins (mid-August 2019)? Let's say, for instance, I'm accepted in April and get approved for the PSLOC in like May, would I have access to it in May?

Thanks!

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Same here, I applied in mid-January and had everything set up by the first week of February. 

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2 hours ago, bigfudge2017 said:

I received access to mine right away, and the included credit cards will be here for me next week

This wasn't my experience. Last year I did get the credit cards right away but I only had access to my LOC once I had my proof of enrolment in late July.

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2 minutes ago, harveyspecter993 said:

This wasn't my experience. Last year I did get the credit cards right away but I only had access to my LOC once I had my proof of enrolment in late July.

That’s odd, as soon as I got access to online banking I was able to access the funds. I went with scotiabank maybe it’s different among banks. I told them I couldn’t provide proof of enrolment till mid summer so the deposit invoice and acceptance letter was used in its place

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That's a change from past cycles, based on what's been posted here. Typically, you had to produce proof of enrollment to have access to the funds.  

@bigfudge2017, I'm guessing you have firmly accepted an offer?

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55 minutes ago, erinl2 said:

That's a change from past cycles, based on what's been posted here. Typically, you had to produce proof of enrollment to have access to the funds.  

@bigfudge2017, I'm guessing you have firmly accepted an offer?

Yes that’s correct, at UofA. 

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You shouldn't have access to funds until you can provide a proof of enrollment, there have been no changes in policies on that front at least not with Scotiabank.

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46 minutes ago, WannaBeBanker said:

You shouldn't have access to funds until you can provide a proof of enrollment, there have been no changes in policies on that front at least not with Scotiabank.

Idk what to tell you then because I do have access, and I guess my rep messed up 

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3 hours ago, WannaBeBanker said:

You shouldn't have access to funds until you can provide a proof of enrollment, there have been no changes in policies on that front at least not with Scotiabank.

You can't get proof of enrolment until like August, right?

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I had to provide my acceptance letter and deposit confirmation, but I also have access to my funds right now.

Edited by Tagger
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1 hour ago, Tagger said:

I had to provide my acceptance letter and deposit confirmation, but I also have access to my funds right now.

ditto

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What I will say is that being forced to wait until late in the summer to get access to the LOC can be a blessing in disguise. The longer you have that money sitting there the more appealing a holiday in Bali starts to look.

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I'm in the process of getting my Scotia LOC and I needed the acceptance letter to go through with the application, but I don't think I'll have access until I have proof of enrolment. 

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On 2/23/2019 at 3:14 PM, stqust said:

Did you guys need co-signers? 

No

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